What Not To Do When You Sell Your Home

 

Here are three mistakes that I see sellers make in today’s market.



Are you thinking of selling? What are some of the mistakes you might make? There are three top mistakes that I see people make all the time, and today I want to talk about how you can avoid them: 1. Showing your home at its worst. I understand that people call last minute sometimes, but you only get one chance to make a first impression. Even in a seller’s market like this one, you need to have your home staged at all times.

“If you want to sell your home for the most money, you need the help of an experienced agent."

2. Not planning for taxes. There are tax exemptions on the sale of your residence, but in this day and age, we’re seeing so much appreciation that people are being put over the limits of those exemptions. Meet with your accountant to see if and how much you might be taxed. 3. Not filling out the disclosure form. You have to properly fill out the disclosure form, even in a seller’s market. You might not know everything, but you need to disclose any problems that you are aware of about your home. Your agent can help you with this form, but they aren’t allowed to fill it out for you. If you want to sell your home for the most money, especially in today’s market, you need the help of an experienced agent. That's where the Charlotte Mabry Team comes in; we have tons of experienced professionals, including myself, who can help you net the most money in the least amount of time. You can reach us at charlotte@charlottemabryteam.com or (423) 593-5588. We are standing by to help you.

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Location: Chattanooga, TN, USA

Avoid These Common Buyer Mistakes

 

Here are four mistakes you should avoid at all costs as a buyer.



If you’re thinking about buying, make sure you don’t make these common mistakes: 1. Picking a bad location. This might mean it’s in a poor part of town. It might be cheaper to buy, but the value is worse in the long term. The lot location can also affect the resale value. If you sit way above or below grade, you can have trouble selling the home.

“I would never waive the inspection on a home I was buying."

2. Buying a home sight unseen. A lot of people are doing this, but it’s a mistake in the long run. You should at least try to see the home at a later date rather than make a decision based solely on the pictures. 3. Waiving the home inspection. This is a dangerous idea. There are some ways around it though. You might ask the inspector to look at the property on your first walk-through, for example. It won’t be a complete inspection, but it’s better than nothing. 4. Not having a knowledgeable representative. When you’re making an offer, you need someone who can give you advice on the location, pricing, and even what to waive. We have plenty of buyer specialists on the Charlotte Mabry Team. You can send me an email at charlotte@charlottemabryteam.com or call my team at (423) 593-5588. We would be glad to help you get the best deal on your new house.



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4 Things Fall Sellers Can Do To Prep Their Home

Here are four things you can do to prepare your home to sell this fall.



When you sell your home in the fall, there are four things that you need to do in order to take advantage of the season:


1. Include fall colors in photos and decorations. Exterior photos should take advantage of this beautiful time of year. Interior decorations that are fall-themed should make the home feel cozy.

“Buyers should have a good first impression when they walk up to your home."

2. Highlight the nearby schools. Many people move in the fall because they’re thinking about schools. If your home is in a school district that everybody loves, talk up the schools in your marketing.

3. Curb appeal. It's important that people get a good first impression when they walk up to your home. Make sure the leaves and sticks are picked up. You could get a new fall-themed welcome mat and have corn and pumpkin decor nearby. It's a real draw to have your curb appeal tied into the fall season.

4. Don’t wait to put your home on the market. We have a window of opportunity between now and the first couple of weeks of December. These months are very busy, and it's a great time to have your home listed. If you're thinking of selling, now is the time.


We have more step-by-step information on what to do to get your house ready for sale. If you'd like to have a copy, I'd be delighted to email that to you. Reach out to me at charlotte@charlottemabryteam.com or 423-593-5588. I look forward to hearing from you.


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3 Ways Financed Offers Can Compete with Cash

Here are three ways you can make your FHA or VA loan compete with cash.



So you want to buy a house, but you need FHA or VA financing. How do you

compete with cash offers? Today I want to go over a few tips on how financed

offers can compete with their cash counterparts. 


Why are cash offers even desired in the first place? The main issue is that

financed offers require both an inspection and an appraisal. In today’s crazy

market, a lot of buyers are waiving these to make their offer more competitive,

but you don’t have that option if your offer is financed.


“Navigating this market can be tricky, so make sure you hire an experienced professional."

 

Things only get trickier when you use an FHA or VA loan. According to a recent

survey, 90% of sellers would accept a conventional loan, but only 30% would

accept an FHA or VA loan. If these numbers make you nervous, don’t worry; I

have some great tips to make your offer more attractive, even if you’re using FHA

or VA financing:


1. Pick up the tab for repairs. Once again, the main hurdle you have to

overcome is the inspection and appraisal. Since they aren’t optional withfinancing, why not tell the seller you’ll pay for any repairs that need to be done?

If you assure the seller you’ll take care of anything an FHA loan would require to

be fixed, then you can make your disadvantage disappear. 


2. Pay the difference of an appraisal gap. If the home appraises low, yourlender will only give you the lower amount for the home. While every lenderis different, some will let you pay the difference in cash. So if you agree to a

$300,000 price and the home only appraises for $290,000, you can make up

the $10,000 difference yourself to reassure your seller. Every lender is

different, so ask them if this is an option you can use. 


Offer an incentive. This one will be different for every buyer, but you can

always offer an incentive. It could be allowing the seller to remain in their

home while they search for a new one or something like offering a boat you

don’t use as part of the sale. No matter what, always talk to your lender

about your options and the conditions of your loan. If you do something

you weren’t supposed to, it could come back to bite you later.


If all these options sound tricky to navigate, it’s because they are. That’s why you need a seasoned real estate professional to help you figure out what options are best for you. If you need a local expert, give us a call at (423) 593-5588 or email us at cmabry1112@gmail.com. My team is always willing to help! 

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6 Steps To Find The Right Agent

Here are my six steps to find the perfect agent to sell your home.


So, you’ve decided to sell your home. Now’s a perfect time because it’s a great seller’s market. However, how do you find an agent that can get you the best deal possible? Today I want to talk about the steps you should take to find a great agent to sell your home. 


1. Visit open houses. Even if you aren’t planning on selling your home right this second, visiting open houses is a good way to meet a wide variety of agents. When it comes time to sell, you’ll have a list of contacts ready to go. 


2. Get a personal referral. You should ask everyone you can if they know a great agent. Coworkers, family, and community members are all good places to start asking around. 


3. Check the agent’s track record. There are plenty of new agents, and they have to start somewhere, but do you really want to be their first sale? I recommend you look for someone with plenty of experience. 


“There are plenty of ways to do an inspection without spooking your seller.”

 

4. Compare online reviews. Comparing online presences is one way to get a feel for an agent. Are they hard to find? Are positive reviews readily available? Ideally, your agent has a significant online presence. 

5. Work with a team. Individual agents can be fine, but if you want to guarantee success, you should work with a team. It’s pretty simple: two heads are better than one. Instead of one person doing all the work, teams have people dedicated to marketing your home, researching your area, and making sure you get top dollar. 

6. Talk about communication. Like in all relationships, communication is key. Do you prefer calling or texting? How often do you want updates? These are all important questions you should talk to your agent about. 


I hope these steps gave you a good idea of where to start when looking for an

agent. If you have any questions, please call or email me. I have a more

comprehensive list of steps to take when selling your home that I am happy

to give you with no strings attached. 


Of course, if you are looking for an experienced team to help sell your home,

the Charlotte Mabry Team is hard to beat. We look forward to hearing from you!

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Why You Shouldn’t Waive the Home Inspection

Here’s everything you need to know about waiving home inspections.


You want to buy a home in this competitive market, and you’re wondering
if you should waive the home inspection. Let’s talk about it.
It sounds like a good idea. You want your offer to stand out, and if the seller
gives you disclosure forms, what is there to worry about?  


“There are plenty of ways to do an inspection without spooking your seller.”

 

In my opinion, I would never buy a property without some sort of home inspection. There is too much risk involved in not having one. The last thing you want is to have your dream home turn into a money pit. 


Now, there are ways to have a home inspection without spooking sellers. For example, you can write in your offer that the inspection will be done quickly, and you won’t ask the seller to make any repairs. If you have a home inspector already lined up, you can streamline the process and shorten the overall inspection time. 


Another tip I have is to take your pre-selected home inspector with you when you tour a property. They can do a quick, 30-minute run-through to see if they find any glaring issues, and you won’t have to worry about putting the inspection in the contract. 


At the end of the day, I highly recommend you always have an inspection done when buying a home. Even a quick one can save you a ton of headaches and money. 


If you are looking to buy, our team has some rockstars ready to get you into your dream home, so please reach out to us via phone or email. Also, if you liked today’s blog post, we have tons of great content on our site. We look forward to hearing from you!

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Location: Chattanooga, TN, USA

5 Ways You Can Stay Ahead of the Market

Here are five ways you can make your offer stand out in today’s crazy market.


If you’re thinking about buying a home, and you’re ready to make an offer, how can you stand out

in this crazy market? I have five tips that can help make your offer as strong as possible.


1. Know what you can afford. Don’t make offers on homes that are right at the top of what you can afford. If you look for houses that are a little bit below that line, you can potentially bump up your offer price to outbid other buyers.


“You’ll probably need to make your best offer first.”

2. Keep a fast pace. If your agent calls you and tells you to look at a house, you need to look at it right away because it might move in the blink of an eye. Being flexible with your work and your time can let you see more houses before they get sold.

3. Make your best offer first. Back in the day, we could make an offer and gauge how the seller responded to it. That’s not the case anymore. A weak initial offer will just make the seller ignore you and go with seemingly stronger buyers.

4. Be a flexible negotiator. If the sellers want to stay in the property a little longer, or even if they want to rent afterward, you might have to be flexible. It can help your offer stand out and get you the home.

5. Use a seasoned real estate professional. We have a lot of good agents in our market, but you really need to be working with the best. They understand the process and will help you win multiple-offer situations

Here at the Charlotte Mabry Team, we have some awesome people who really know what they’re doing. I’d love to hook you up with one of them and help you win that house. Call or send us an email, and feel free to reach out even if you just have real estate questions.

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The Top Remodels Every Homeowner Should Make

Here are my top home remodels to get the best return on investment.


If you are planning on remodeling your home, you should make sure your choices

are adding value. That way, when you plan to sell, your home will be ready to get

top dollar. Today I’ll be sharing my top tips to get the most out of your remodel. 


1. Buyers like light, bright, and open. Increasing the amount of light and space in your home is a great way to make it appeal to buyers. Enlarging windows, adding windows, raising ceilings, or any other way to increase light and space in your home are all sure to bring in a great return on your investment.


2. Improve your landscaping and curb appeal. This method is easy, but it adds a lot of value to your home. Sidewalks, bushes, and other landscaping upgrades improve your home’s first impression. At the end of the day, no one will walk through your home if the outside looks unappealing. 


3. Make sure you have a home office. If you don’t have a designated home office area, I highly recommend converting a bedroom or adding an additional room to make space for one. More people are working from home than ever, and having a home office can be an essential item for buyers. 


4. Add or improve your decking. After the pandemic, people want to spend more time outside with their friends and family. A nice deck gives your home value and is something nice for you to enjoy as well. 


"Even if you plan on upgrading your kitchen for yourself, you might as well increase the value of your home in the process." 


5. Finish your basement. If you have an unfinished basement, it is super easy to add an office or workout room. Doing something with the space will add a ton of quick value to your home. 


6. Update your bathroom or kitchen. Traditionally, updating your bathroom or kitchen is a great return on investment. Enlarging your bathroom and adding kitchen accessories are just a few ways to improve the value of your home. 


If you’d like a recommendation on vendors to help you with these remodels,

just send me an email at charlotte@charlottemabryteam.com. I would be more than happy to send you some excellent recommendations. 


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Location: Chattanooga, TN, USA

The 7 Kitchen Features Every Buyer Wants

Here are the top seven kitchen features buyers want these days.


What kitchen features do buyers look for when they view your home? This is an important question because a lot of buyers see the kitchen as one of the most crucial rooms in your house. Today, I’ll be going over the top seven features buyers look for in your kitchen:


1. Double sink - You would never have guessed it, but the most important feature your kitchen can have is a double sink. For a while, we thought a single farmhouse sink would be more popular, but buyers have confirmed over and over that they prefer the traditional double sink setup. 


2. Walk-in pantry - A normal pantry works just fine, but having a walk-in pantry makes the kitchen that much nicer. 


3. Table space - It’s nice to have a bar, but most buyers are more concerned with space for a big kitchen table for dinner. 


4. Central island - It may sound picky, but buyers want a nice island to prepare their food before they bring it over to their table. Even if you plan on upgrading your kitchen for yourself, you might as well increase the value of your home in the process. 


"Even if you plan on upgrading your kitchen for yourself, you might as well increase the value of your home in the process." 


5. Granite countertops - They do not necessarily need to be granite, but solid surface countertops are a must in today’s kitchens. 


6. Custom backsplash - This one is related to the countertops. No matter what countertops you have, buyers want a backsplash that matches. 


7. Pull-out shelves - If you can spring for it, pull-out shelves always catch the attention of potential buyers. 


Even if you plan on upgrading your kitchen for yourself, you might as well increase the value of your home in the process.If you have any questions or want to know a vendor who can help you with kitchen additions, do not hesitate to email me at charlotte@charlottemabryteam.com or call my team at (423) 593-5588. We’re always happy to help!



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What Happens When You Close on a Home

Here’s an overview of what happens during the closing process.


While you’re getting ready to close on your new home, what’s going on behind the scenes? Here’s a checklist of tasks that typically happen: 1. Your contract is reviewed. This ensures all your contingencies are met, your loan information is correct, your name is spelled correctly, etc. 2. Your loan is verified. This ensures that all your funds are there and you’ve met all the terms of the loan process. Your lender will also check your employment history and your credit. This all happens typically the day before closing. 3. Your deed for the home is checked. This involves title work and a title search to verify that there are no liens on the property or any other surprises. The title insurance policy is also prepared to ensure the title is free and clear. 4. You receive the survey of the property (if you ordered one). This survey will then be verified so it matches with the written description of the property.  
  



"Double-check the numbers before signing on the dotted line. "

5. You do a final walk-through. You and your agent will walk through the home to confirm that everything is in working order and exactly how you purchased it. We typically recommend doing this the day before closing. 6. You receive a closing disclosure. You receive an estimate of your closing costs during the initial phase of the closing process, and this document breaks down all of those closing costs. Your lender usually sends it to you three to four days before closing. Double-check the numbers before signing on the dotted line. 7. You sign a lot of paperwork come closing day. If you’ve bought a home before, you know that you need to bring both hands with you on closing day because you’ll be signing a lot of papers. Transactions with conventional loans typically involve more paperwork than cash transactions, and transactions with government loans (VA or FHA) usually feature even more paperwork. 8. The deed is sent to the courthouse and recorded. Afterward, that document is sent back to the title company, who then sends it back to you. You should get it in the mail two to six weeks after closing. If you have questions about the closing process or there’s anything else I can assist you with, send me an email and I’d be happy to help you. I hope you have a fantastic day!

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The Simplest Ways to Start Building Your Wealth

Here are a few ways you can invest in real estate in 2021.


If you’re unsure whether or not you want to invest in real estate, now’s a great time to make that leap, and there are several ways to go about it. The first is to purchase or invest in a real estate investment trust (REIT). This is an entity that owns shares of interest in homes, apartments, commercial buildings, multifamily spaces, etc. It’s a way to invest money in a property you don’t necessarily own, but don’t have to spend time with either.  



"I’d be glad to sit down with you and make a plan for your investment purchase. "

The second thing you can do is go the traditional route and buy a rental property. If you’re thinking of buying a single-family home, I suggest something with three bedrooms and a garage. The property should also be located in a great school zone. That kind of property you’ll always be able to rent. Also, you could buy a rental in an area that’s zoned for short-term rentals, like Airbnb. Additionally, you could flip and sell that property. This real estate market is a great opportunity to sell a property. If you want to ease into real estate without buying a whole property, you can rent out a portion of your house—a couple of bedrooms, for example. All of these have tax consequences, so check with a tax professional before making any decisions. If you don’t know where to start, give me a call or send me an email. I’d be glad to sit down with you and make a plan for your investment purchase. Don’t let 2021 pass by without you building your personal wealth!  
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Location: Chattanooga, TN, USA

6 Home Upgrades to Help You Age in Place

You’ll need to change a few things in your home if you decide to age in place.


If you’re thinking about holding on to your home and aging in place during your later years, there are a number of things you’ll want to do. Here are some simple home improvements you can make to increase accessibility and mobility throughout your living space:


1. Install grab bars: You can put these in your shower, around the toilet, along the stairs, and near entrances. Additionally, you need to determine whether you have the space to do so.

"Renting and flipping are both good options, but figuring out which one to choose depends on your real estate goals."

2. Improve stairways: Think about the number of stairs you’ll still need to navigate. You’ll want to install handrails to help you get up and down the stairs, both indoors and outside. You may also want to add ramps for wheelchair accessibility.
3. Widen doorways: This helps you to move a wheelchair throughout the home.
4. Alter the floorplan: If all your bedrooms or bathrooms are currently upstairs, you may need to figure out a way to bring them to the main level. However, it may be a better idea to move to a new home instead of spending the money on these big changes.
5. Remove carpets: It can be difficult to use mobility aids, such as a walker, on carpeted floors. You may want to change to hardwood flooring or something similar.
6. Modify the shower: You may need to be able to roll a wheelchair into the shower, or have a shower with a low threshold that’s easy to step over. However, if there’s not enough space, these modifications can be difficult. Many of these changes are necessary for people who wish to age in place. However, not all homes have the room for these updates; in these cases, it may be far easier to find a new home that fits your needs. If you have any questions about aging in place, or if you’d like to find a house that won’t require expensive changes, feel free to reach out to me. I look forward to hearing from you soon. 
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Location: Chattanooga, TN, USA

How to Decide Whether to Flip or Hold an Investment Property

Flipping and renting are both good choices for an investment property.

Deciding whether to flip or rent out your investment property can be a difficult choice. Both have a variety of pros and cons, so today I’ll be talking about each option in order to help you make a well-informed decision that meets your goals.


First, there are a few different ways to buy your investment property. You can find someone who’s simply looking to offload their home quickly, and you can often buy these at market price or even lower. Others have been unable to maintain their property and will give steep discounts by selling it as is.



"Renting and flipping are both good options, but figuring out which one to choose depends on your real estate goals."

Next, you need to decide whether to flip or hold. Flipping is a good choice if you’re looking to get cash quickly. It can take anywhere from a month to half a year in order to fix up the property and list it, and you can make some fairly quick money. Right now, the average nationwide profit is around $50,000 on flipped properties. However, there are some risks involved—the market might change and then your invested money is stuck in the home. You’re also spending time and effort to renovate the home, and your income may be subject to capital gains taxes; speak to your tax advisor to find out how this may influence your decision.


On the other hand, you can hold on to your investment property and rent it out. You did all the hard work of renovating it, so why not keep it and make some passive income? Instead of getting paid in a lump sum, renting allows you to receive cash over the long term. On top of this, the property’s value will likely increase throughout the coming years. It’s a fantastic way to build wealth. Taxes are different here as well, as you can get a write-off for investment property ownership. Renting means you’ll have tenants, however, so you’ll be on the line for things like maintenance, late payments, and other tricky situations.


Renting and flipping are both good options, but figuring out which one to choose depends on your real estate goals. If you’d like to get a better idea of which one to go with, have any questions, or would like more information, feel free to reach out to me. I look forward to hearing from you soon.
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